Friends who started MusicMagpie in their Stockport garage to net £23m
Steve Oliver and Walter Gleeson will net the fortune after MusicMagpie floats in a deal valuing the business at around £208m
MusicMagpie co-founders Walter Gleeson (left) and Steve Oliver (right)
Credit: MusicMagpie
A pair of music lovers who founded a second-hand CD and DVD website from their Stockport garage will net £23.2m next week when the company floats in London.
Steve Oliver started MusicMagpie in 2007 with his friend and colleague Walter Gleeson after realising there was a demand for hard-to-fiind novels and music - with many sought-after titles lying around unloved in drawers.
Meet the man using AI to hunt down the world s rarest diseases
Tim Guilliams, chief executive of Healx, tells Harry de Quetteville how he is utilising machine learning to bring his therapies to trial
Healx CEO Tim Guilliams
Credit: BEN DAVIS
“One of my AI scientists, his son has what’s called myotubular myopathy, which essentially causes all of his skeletal muscle to be underdeveloped,” says Meri Williams, chief technology officer of Healx. “Eating is hard. Breathing is hard.”
The condition strikes just one in every 50,000 boys born. But there is no cure, and patients often need intensive medical support. It is, in other words, just the kind of disease that Healx is targeting - life changing yet rare enough to be unloved by the traditional pharmaceutical model, always on the lookout for the next blockbuster drug.
HSBC to give Princess of Huawei key documents to help fight extradition
Huawei s chief financial office Meng Wanzhou hopes will help prevent her extradition to the U.S.
Huawei CFO Meng Wanzhou
HSBC has struck a deal with Huawei chief financial officer Meng Wanzhou over producing bank records that are expected to be significant in helping her fight extradition to the US.
Ms Meng, known as the Princess of Huawei , is currently under house arrest in Canada, facing extradition to the US over allegations that she committed bank fraud by misleading HSBC over links between Chinese telecom giant Huawei and Skycom.
Mike Lynch fraud case casts a shadow over £3bn Darktrace float plan
Cybersecurity company admits criminal and civil charges against its founding shareholder could result in a material adverse effect
12 April 2021 • 7:08pm
The cybersecurity provider Darktrace has warned that the fraud allegations against its founding shareholder, the former Autonomy chief executive Mike Lynch, threaten its prospects as it gears up for a £3bn stock market debut.
In documents published as part of the formal process that must be followed before a London float, Darktrace admitted that the criminal and civil charges against Dr Lynch could result in a material adverse effect on its business and prospects.
Google faces insider-trading claims over digital advertising
The allegations were made as the US firm battles an antitrust lawsuit in the US over its digital ad role
12 April 2021 • 6:53am
Google has been accused of insider trading in the digital advertising market in court documents which claim it ran a programme that allegedly gave it an advantage over rivals.
The tech firm - which is battling a US antitrust case over its alleged dominant position - is said to have run a scheme called “Project Bernanke” in which it used access to publishers’ servers to gain the upper hand in price negotiations with advertisers.